News
Inside Contacless propose to buy Atmel’S Secure Microcontoller Solution Business/Inside
May 2010 by Marc Jacob
INSIDE Contactless announced it has entered into an agreement to purchase for cash consideration Atmel’s Secure Microcontroller Solutions (SMS) business. The transaction will be financed by the existing INSIDE investors led by Gimv and Sofinnova Partners, along with the French sovereign wealth fund, Fonds Stratégique d’Investissement (FSI). Atmel also will make an investment in INSIDE.
After completion of the information and consultation process with its Works Council, in accordance with French law, Atmel will seek authorization from its board of directors to enter into the purchase agreement with INSIDE, with the transaction expected to close in the third quarter of 2010, subject to certain closing conditions.
The resulting organization will be the largest fabless semiconductor company in France, and one of the largest in Europe.
